Waterlogic has completed the acquisition of Aguapura Aguaviva S.L in Spain for an undisclosed amount.
Waterlogic, a vertically integrated global designer, manufacturer, distributor and service provider of drinking water systems, is pleased to announce the acquisition of Madrid based Aguaviva. Aguaviva is a quality player and a market leader in the Spanish Point of Use (POU) drinking water market with direct sales all over Spain, focusing on the Madrid and Barcelona regions. The acquisition adds over 7,000 POU water coolers in field.
The Aguaviva operation will continue to be the leading POU player in the Spanish market and deliver unparalleled service to the workplace hydration market, offering existing and potential customers the most comprehensive offering in commercial POU water coolers and specialty water products designed for the hotel, restaurant and café markets. This acquisition opens a brand new direct territory for Waterlogic, in a very exciting market with significant upside potential. “We are thrilled about having Aguaviva join the Waterlogic group and believe this is a great platform for future growth in Spain. We warmly welcome Aguaviva employees and management to Waterlogic and are excited by the prospects of having a direct foothold in the Spanish market. We hope this will also give us the opportunity to encourage additional independent POU watercooler businesses in Spain to join Waterlogic going forward,” says Jeremy Ben-David, Group CEO Waterlogic.
“We have been a long term dealer of the Waterlogic products and are excited to become part of the Waterlogic Group. Waterlogic and Aguaviva have a shared culture of focusing on customer service and providing the best solutions. This will benefit our customers and team members and strengthen our position in the Spanish market further” said Gerardo Alvarez. Gerardo is the founder and Managing Director of Aguaviva and will continue in that role under Waterlogic Ownership.
Waterlogic was acquired in January 2015 by funds managed by Castik Capital S.à r.l (“Castik”), the European private equity investor. The acquisition of Aguapura Aguaviva, S.L is the tenth manifestation of the company’s buy-and-build strategy since the acquisition by Castik, following substantial acquisitions in the UK, Australia, Norway, Denmark, USA and Sweden. Castik believes that this buy-and-build strategy in a fragmented market, coupled with tenacious organic growth in a growing industry with high recurring revenues, can create significant value.
Waterlogic and Castik were advised on the transaction by DLA and PwC. Aguapura Aguaviva, S.L was advised by Garrigues and The Vector company.
Waterlogic is an innovative designer, manufacturer, distributor and operator of mains attached POU drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces. Founded in 1992, Waterlogic was one of the first companies to introduce POU systems to Europe and has been in the forefront of the POU market in terms of product design and quality, the application of new technologies and in sales and service. Waterlogic has an extensive and expanding independent global distribution network in place, reaching over 50 countries around the world.
Waterlogic products are currently being distributed in North and South America, Europe, Asia, Australia and South Africa. Waterlogic’s leading markets are the US, Australia and Western Europe, in particular Scandinavia, Germany, France and the UK.
More information can be found at www.waterlogic.com
Founded in 2004, Aguaviva is the leading provider of POU (mains fed) water coolers to the Spanish market. Aguaviva offers a cost-effective, environmentally friendly alternative to traditional bottled water and uses the most advanced water purification technology available. Aguaviva is based in Madrid and prior to the acquisition were the exclusive distributor for Waterlogic in the Spanish Market.
Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multi-strategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams.
Castik has an investment horizon of up to ten years – longer than most other private equity funds. This enables Castik to focus resources on its portfolio companies and ensure sustainable, long-term value creation.
Founded in 2014, Castik is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final fund close of EUR 1bn in July 2015.